Amadeus FiRe AG

First quarter results of fiscal year 2017

DGAP-Media / 24.04.2017 / 08:12 Press Release Amadeus FiRe AG: First quarter results of fiscal year 2017 Frankfurt/Main, 24 April 2017 In the first quarter of the 2017 financial year, the Amadeus FiRe Group generated consolidated revenue of EUR 44,848k, an increase of 11.6% (previous year: EUR 40,181k). The following sales were attributed to the individual services:

The higher revenue from temporary staffing compared to the previous year is mainly attributable to three more billable days in the first quarter of 2017. This corresponds to an effect of around EUR 1.5 million on revenues, gross profit and earnings. In this regard, it should be noted in the further course of the year that the remaining nine calendar months have six fewer billable days than in the previous year. The positive effect from the first quarter will be reversed over the rest of the year. Finally, there will be a negative effect on sales, gross profit and earnings in 2017 due to three fewer billable days.

There is still a shortage of qualified temporary staff on the labour market and a tendency among customer companies to conclude permanent rather than temporary employment contracts.

The development of permanent placement is partly attributable to the modified companies' hiring practices as described above. Due to the lack of qualified staff, companies are able to fill vacancies with suitable candidates only at an inadequate and slow rate. According to this the demand for the permanent placement service remains positive.

Sales in the Training and Education segment rose by 10.6% to EUR 4,306k in the first quarter (previous year: EUR 3,893k). Due to the calendar situation of Easter holidays, there were more training days available in the first quarter of 2017.

The gross profit of the Amadeus FiRe Group increased to EUR 19,913k (previous year: EUR 16,649k). Gross profit margin improved by 3.0 percentage points from 41.4% to 44.4%. The main drivers were the further increase in the share of permanent placement revenues and the effect of the three additional working days in the first quarter of 2017.